Netflix Q3 revenue guidance falls short despite blowout Q2 subscriber adds

Investing.com -- Netflix reported Thursday third-quarter revenue guidance that fell short of Wall Street estimates results even as the streaming giant reported better-than-expected Q2 results amid blowout subscriber adds, driven by a strong content slate and ongoing crackdown on password sharing.

Netflix Inc (NASDAQ: NFLX) was less than 1% lower in afterhours trading following the results.

Netflix reported earnings of $4.88 a share on revenue of $9.56B, topping estimates of $4.74 on revenue of $9.53B.

The streaming giant raked in 8M users in Q2, well above the 4.8M estimated, driven by a strong content slate.

"In Q2 we had a wide variety of hit series like Bridgerton S3, Baby Reindeer, Queen of Tears and The Great Indian Kapil Show, and popular films like Under Paris, Atlas (NYSE: ATCO) and Hit Man and The Roast of Tom Brady, which attracted our largest live audience yet," the company said.

Ads tier membership grew 34% quarter on quarter.

For Q3, the company guided revenue of $9.37B, missing estimates of $9.81B, but EPS of $5.10 beat estimates of $4.74.

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